Deputy Commerce Secretary Don Graves on Monday acknowledged that the U.S. has fallen behind as China has surged past American foreign direct investment in Africa.
WASHINGTON — With dozens of African leaders descending on Washington this week, the Biden administration is offering a not-so-subtle pitch in its economic competition with China on the continent: The U.S. offers a better option to African partners.
The continent, whose leaders often feel they've been given short shrift by leading economies, remains crucial to global powers because of its rapidly growing population, significant natural resources, and a sizable voting bloc in the United Nations. Africa remains of great strategic importance as the U.S. recalibrates its foreign policy with greater focus on China — what the Biden administration sees as the United States' most significant economic and military adversary.
And while the administration has tried to minimize concerns about China's deepening presence on the continent as a driving force at this week's talks, Beijing's shadow over the biggest international gathering in Washington since the start of the pandemic nearly three years ago looms large. Trade between the U.S. and sub-Saharan Africa was $44.9 billion last year, a 22% increase from 2019. But foreign direct investment into the region fell by 5.3% to $30.31 billion in 2021. Trade between Africa and China last year surged to $254 billion last year, up about 35% as Chinese exports increased on the continent.
"We are not interested in the views of any other countries on China's role in Africa," Qin said at the Semafor forum.
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